DodoFinance Breaking News Made For You!
Many economists doubt that the prediction that China will sooner or later become economically larger than the United States will ever come true. However, the recent setback in the Asian country could slow the catching-up process.
Why is this important?
It was until recently that many were convinced that China would become the new number one. However, if the US takes the lead, the geopolitical balance of power may shift less than expected.In the message: New indicators from the Chinese government confirm what has been clear for some time: economic growth in China is falling sharply. And then perhaps the biggest Covid shock is yet to come.
details:
- Activity in both China’s manufacturing and services sectors fell in December to the lowest level since February 2020, the latest PMI confidence indicators showed.
- A dramatic easing of China’s COVID policies could lead, economists say
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